How extra mortgage payments change the loan
Apply more money to principal and future interest has a smaller balance to work against. Timing and consistency matter.
Choose the extra-payment pattern
A recurring extra payment adds a set amount on a schedule. A one-time or lump-sum payment applies a larger amount once. Both can reduce principal, interest and payoff time when the loan applies them correctly.
Test the exact timing you expect. A payment made early in the loan generally has more time to affect later interest than the same payment made near the end.
Compare more than the new payoff date
- Total interest with and without extra payments
- Estimated interest saved
- Months or years removed from the schedule
- Total cash committed to the strategy
- Emergency savings left after the payment
One extra payment a year
Instead of assuming the result, enter the normal loan and add one recurring annual payment equal to the amount you can reliably afford. Compare that plan with a smaller monthly extra payment. The same yearly cash can produce a different result depending on timing.
Model extra payments in Bricks Calc
- Open or save the original mortgage plan.
- Add an Extra Payment plan.
- Choose one-time or recurring and set the amount and timing.
- Review estimated interest saved and time saved.
- Duplicate the plan to test a different amount or schedule.
Keep the original plan unchanged. It is the baseline that makes the savings comparison meaningful.
Check the loan rules first
Confirm that the servicer applies the extra amount to principal and whether the loan has a prepayment penalty. Preserve cash needed for emergencies, high-interest debt and near-term obligations before committing it to a mortgage.
Results are estimates and do not instruct a lender or servicer. Verify payment application and loan terms directly.
Test the payment before sending it
Compare one-time and recurring prepayments against the mortgage you already saved.
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